Queens Auto Body Shop Owner Loses $300,000 Retirement Nest Egg in Bitcoin Theft

A Queens auto body shop owner has suffered a devastating blow to his retirement plans after falling victim to a Bitcoin theft. The 61-year-old resident of Jamaica, Queens, had diligently invested in the digital currency, amassing 5.75 Bitcoin valued at $92,000 in a Blockchain digital wallet. However, in November 2022, his retirement nest egg was allegedly stolen by a 20-year-old California man named Aaron Peterson Jr., who masterminded the hack along with his parents, Aaron Peterson Sr., 39, and Autumn Clark, 37, and four other individuals.

The group, now facing charges of grand larceny, money laundering, identity theft, and other crimes, was indicted on Friday, according to Queens District Attorney Melinda Katz. The victim, who had been closely monitoring the growth of his investment, noticed unauthorized activity and promptly reported the theft to Assemblyman Clyde Vanel’s office. Vanel, in turn, alerted the Queens district attorney, leading to a thorough investigation.

Over the course of eight months, the stolen funds were allegedly laundered through a series of small transactions, utilizing a technique known as a “peel chain.” Dontay Brown, 39, Ronald Moland Jr., 22, and two unidentified suspects played a role in depositing the cryptocurrency into Cash App accounts before withdrawing the funds. The remaining amount was transferred to a “pool account” belonging to Aaron Peterson Jr., who then used it to purchase luxury items, including a diamond pendant, a Rolex, and a Mercedes-Benz.

Damning video and photographic evidence obtained by The Post showcases Peterson Jr. counting stacks of cash, flaunting jewelry allegedly bought with the stolen funds, and even transferring the illicitly obtained cryptocurrency on his cellphone. Queens District Attorney Melinda Katz remarked, “The individuals allegedly responsible for this operation went through a meticulous series of steps to hide their criminal activity.”

On July 24, the five known suspects were apprehended in California, while a search is currently underway for the remaining two individuals involved. If convicted, both Petersons and Clark could face up to 15 years in prison each. The defendants are scheduled to appear in court in October.